Cost of Living In Belize: 10 Things You Need To know

I am sure you will agree that thought of moving to a tropical paradise, such as Belize, is definitely on your bucket list.

But.

You may tell yourself: "The Cost of living, such as in Belize, is probably high."

It's not.

Another major concern, especially for baby boomers, is the fact that they do not want to move too far away from their elderly parents.

For a peace of mind, it is important to note that the government has been making strides in supporting the development of the assisted living industry in Belize.

Well, it turns out, that there are many benefits you will have if you move to Belize.

In this article, we will take the time to point out 10 things you should know about moving to Belize, especially when it comes to cost of living.

1. Your money doubles: The Belize dollar is pegged to the US dollar at $2 Belize dollars to $1 United States dollar. If you bring $50,000US you end up with $100,000BZ to spend.

2. Retirement benefits: The Government of Belize (GOB) offers the excellent Qualified Retirement Program (QRP), which was created to facilitate eligible persons who have met the income requirements, to permanently live and retire and relax in Belize. Anyone 45 years and older may benefit from this program. A major benefit is importing items into the country duty free.

3. Property is affordable: Buying land in Belize, especially raw land, is comparable to prices you will see in the United States during the 1960s. You can find a beach front lot for as low as $75,000US. You can rent a fully furnished, beach front condo in places like the world-famous Ambergris Caye, starting as low at $1,000US per month.

4. Buying or building a home: the Cayo district, for example, is the second largest tourist destination in Belize and the premier adventure and eco-activity region, due to its many tropical jungle wonders; such as caves, rivers, waterfalls, and ancient Maya sites. You can buy a comfortable 2 storey, 4 bedroom, 4 bath home for as little as $200,000US, or build and furnish a comfy 3 bedroom, 1 bath house for about $100,000US.

5. Property taxes are ridiculously low: Property taxes in Belize rarely go over $100US per year. in Placencia, the fastest growing tourist destination in Belize, some beach front property owners pay as little as $12.50US per year. No, we are not kidding!

6. Capital gains tax: There are no capital gains taxes in Belize.

7. Food: stocking up on food is fairly cheap in Belize. If you are not a big eater, you can keep your house stocked for as little as $75US to $100US per week. Belize has many small farmers, and it is fairly easy to find fresh, organic (exotic) produce.

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8. Medical costs: Belize has a relatively well established private medical care delivery system. Dental costs is about 50% less than the United States, and you get high quality, usually, US-trained dental surgeons. The cost of staying in a private hospital in Belize with state of the art facilities and equipment is around $250US per day, compared to the United States which averages at $500US per day.

9. Transportation: Fuel prices in Belize are around $5US per gallon/$1.41US per liter (regular/unleaded), which is expensive, however, getting around the country is relatively cheap compared to the USA, due to its small size. 60 miles wide by 200 miles long. Buy a used automobile in Belize is fairly cheap and there are many small dealers all over, or you can bring a vehicle in under the Qualified Retirement Program (QRP).

10. Senior Living Facilities: Nursing homes and assisted living facilities in Belize are well established. Senior living in the United States averages $50,000US per year and climbing. That is around $4,100US per month...per person. At Belize Riverview Nursing Home, we start as low as $3,000US per month, single or double occupancy.

As with any country in the world, living in Belize has its pros and cons...we have found far more pros than cons.

Do your research and don't be afraid to contact us. We will be happy to tell you what it is like living in Belize.